Top Tips for First-time Buyers

27 March 2024

Are you thinking about stepping onto the property ladder but have no idea where to start? It can be an exciting yet overwhelming time.

Let us help - here are our top tips for anyone looking into owning their first home!

1. Establish your budget.

Take your time to sit down and budget your entire life! Calculating how much your current outgoings are will help you determine how much you'd be comfortable spending each month on your bills. Speak to a mortgage advisor they'll be able to help you with this process and advise further.

2. Save as much as you can!

The bigger the deposit the better. This will help you secure better mortgage rates and minimise your repayments. Keep in mind those extra costs that come with buying a home - solicitor fees, moving expenses, etc. set aside money for these! Check out any government schemes that might be available to you - such as the lifetime ISA.

3. Appoint your solicitor.

Before making any offers on a house, you'll need to instruct a solicitor. They'll be able to advise you how much to offer on a property and liaise with your lender to ensure that the funds are in place to complete.

4. Visit as many properties as possible.

By seeing different properties, you'll be able to gauge what it is you like and what you don't like. This will also help you understand the market better so you can start to determine what's the best value for you.

5. Be disciplined.

It's important to go in with an open mind. What you might perceive as your dream home might not necessarily be what you end up going with for your first home. It will likely be sold by you in the future - so choosing a property that you think would appeal to a wide range of people will make it easier for you to sell when the time comes.

6. Be patient.

It is an exciting journey, and it is very easy to want the first house you see but bear in mind the market changes constantly and new properties are coming on nearly every day. Wait for the right one! When you know, you'll know.